TRANSSION(SH:688036) Xin Lang Cai Jing·2025-12-15 02:41Core Viewpoint - Transsion Holdings has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, aiming to leverage its strong market position in emerging markets, particularly in Africa, despite recent declines in revenue and profit [1][6]. Company Overview - Transsion Holdings is a leading provider of smart terminal products and mobile internet services, primarily focusing on mobile phones and extending into IoT products and services [1]. - The company has established a significant market presence in emerging markets, especially in Africa, where it is recognized as the "King of Africa" in the mobile phone industry [1]. Financial Performance - For the year 2024, the company reported revenues of approximately RMB 687.15 billion and a net profit of nearly RMB 56 billion [1]. - In the first half of 2025, the company experienced a revenue decline of 16% year-on-year, totaling RMB 291 billion, with a net profit drop of over 50% to RMB 12.4 billion [1][6]. - The gross profit for the first half of 2025 was RMB 55.33 billion, reflecting a year-on-year decrease of 23.17% [6]. Market Position - As of 2024, Transsion Holdings ranked as the third-largest smartphone manufacturer globally by sales volume [10][11]. - The company operates under three main brands: TECNO (targeting mid-to-high-end consumers), Infinix (aimed at young consumers), and itel (focused on the mass market) [3][4]. Industry Context - The global smartphone market was valued at USD 0.5 trillion in 2024, with a projected growth to USD 0.6 trillion by 2029, reflecting a compound annual growth rate (CAGR) of 4.6% [8]. - The mobile internet services market is expected to grow from USD 2.9 trillion in 2024 to USD 7.6 trillion by 2029, with a CAGR of 21.5% [8].